Oppenheimer Asset Management Inc. Buys 3,426 Shares of Phillips 66 $PSX

Oppenheimer Asset Management Inc. raised its stake in shares of Phillips 66 (NYSE:PSX) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 97,472 shares of the oil and gas company’s stock after buying an additional 3,426 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Phillips 66 were worth $13,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Elliott Investment Management L.P. raised its position in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Phillips 66 by 5.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after acquiring an additional 10,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Phillips 66 by 3.9% during the 2nd quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock valued at $83,102,000 after purchasing an additional 26,238 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Phillips 66 during the second quarter valued at about $4,952,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PSX. Scotiabank reiterated a “sector perform” rating and issued a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Barclays upped their price objective on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. TD Cowen reissued a “buy” rating on shares of Phillips 66 in a report on Friday. Citigroup boosted their price target on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $157.18.

Phillips 66 Stock Down 0.2%

Shares of PSX opened at $157.47 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $138.83 and a 200 day moving average of $134.01. The company has a market cap of $63.45 billion, a PE ratio of 14.55, a P/E/G ratio of 0.58 and a beta of 0.90. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $159.15.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The business had revenue of $32.16 billion for the quarter, compared to the consensus estimate of $33.81 billion. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares of the company’s stock, valued at $3,869,850. This represents a 14.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the sale, the executive vice president owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,488 shares of company stock valued at $8,474,466 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.